• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Tetra Technologi (NYSE:TTI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tetra Technologi (NYSE:TTI) based on the price action in the company's shares. Yesterday's price range of $2.23 and $2.27 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Tetra Technologi may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

TETRA Technologies, Inc. is an energy services company with an integrated chemicals operation that supplies feedstocks to energy and other markets. The Company markets chemical products and systems to the oil and gas industry for well completion and workover operations. TETRA Technologies also provides on-site fluid engineering, fluid management, and filtration services.

In the past 52 weeks, Tetra Technologi share prices have been bracketed by a low of $1.29 and a high of $5.11 and closed yesterday at $2.22, 72% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 2.3%.

Potential upside of 165.2% exists for Tetra Technologi, based on a current level of $2.22 and analysts' average consensus price target of $5.89. The stock should find initial resistance at its 50-day moving average (MA) of $2.24 and further resistance at its 200-day MA of $3.74.

SmarTrend is monitoring the recent change of momentum in Tetra Technologi. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Tetra Technologi in search of a potential trend change.

Keywords: bearish am inside day candle tetra technologi

Ticker(s): TTI